8 Pages Posted: 28 Jan 2010 Last revised: 25 Aug 2010
Date Written: January 27, 2010
This paper explores the character of long-run equilibrium in an oligopoly model with Cobb-Douglas production and demand. The model is a Bertrand type model in that firms choose production, but the product may be differentiated as well as homogeneous in nature. The long run equilibrium explored here does not permit entry or exit, so in that sense it is considered oligopoly.
Keywords: Price Competition, Oligopoly, Bertrand, Long-Run Equilibrium
JEL Classification: D43, L13
Suggested Citation: Suggested Citation
Kolberg, William C., Long-Run Equilibrium in a Bertrand Type Oligopoly Model with Cobb-Douglas Demand and Production (January 27, 2010). Available at SSRN: https://ssrn.com/abstract=1543380 or http://dx.doi.org/10.2139/ssrn.1543380